There is any consumer confidence? ... Not really!

Consumer confidence
Biggest declines
Date Event % Change
Oct. 2008 Bailouts & bears -23.4
Oct. 1990 Kuwait oil prices -23.0
April 1980 Iran hostage crisis -20.3
Sept. 2005 Katrina -18.0
Sept. 2001 Sept. 11 -17.0
Aug. 1990 Kuwait invasion -17.0
Nov. 1987 Post-market crash -14.3

Everyday impact  Audio
A Fed rate cut may help the economy, but it won't do much for consumers, says George McBride, senior analyst for BankRate.com.
According to the latest polls the consumer confidence is all times lower. The housing market slump, the weak job market, inflation, the sell-off in the stock markets ... put the consumer in a somber mood.

Consumer confidence declined @ 9.1% from Nov.1987 (Post market crash) to Oct.2008. As bad as consumers think the economy is now, expectations are that it'll get worse before gets better. With job prospects becoming weaker and income staying stagnant the consumer confidence is expected to drop even further.

 

More analysis in First Take.
 
 
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3 Comments on There is any consumer confidence? ... Not really!

OCT
28
2008
232,894 Points 27 Featured Posts Localism Sponsor Outside Blog Hit Router

There is zero confidence yet the market had a huge gain today !!!  Is a whacky world out there.  I guess there is some quiet confidence out there : )  Or short covering !
8:46pm • #1
577,918 Points 18 Featured Posts Outside Blog

I have never been accused of being overly optimistic, but I really think things will get better.
8:58pm • #2
OCT
29
2008
221,214 Points 4 Featured Posts

Steven, Of course it will get better!  it is just a scary economic cycle that is global... toss in the negativity of a presidential election and the average person is not going to be jumping for joy! 
2:51pm • #3

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